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After Hours

The Shopping Episode: Retail Trends We’re Watching

After Hours

TED Audio Collective / Youngme Moon, Mihir Desai, & Felix Oberholzer-Gee

Hbr, Business/investing, Ideas, Mba, Economics, Professor, Business/management, News/business News, Management, News, Presents, Finance, Faculty, Harvard, Business

4.81.4K Ratings

🗓️ 2 June 2021

⏱️ 34 minutes

🧾️ Download transcript

Summary

Youngme , Mihir , and Felix share their shopping habits and the retail trends they’re keeping an eye on.

Recent picks, and recommended reading/websites:

You can visit our website at HarvardAfterHours.com. You can email your comments and ideas for future episodes to: harvardafterhours@gmail.com. You can follow Youngme, Mihir, Rebecca, and Rawi on Twitter at: @YoungmeMoon, @DesaiMihirA, @RebeccaReCap, and @RawiAbdelal.

Transcript

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0:00.0

Ted Audio Collective

0:07.0

Hey listener, a quick favor. We are conducting an audience survey and we'd be really grateful if you could take just a few minutes to respond.

0:14.0

Please visit survey.prx.org slash after hours to take the survey today. That survey.prx.org slash after hours. Thanks.

0:25.0

HBR presents.

0:44.0

Hi everyone, you're the C2. After hours, I'm young me. I'm Felix. And I'm here. And we're going to talk about shopping and retail.

0:51.0

Are you guys finicky shoppers? The pens, right? So if I buy a bicycle, I'm super finicky. Furniture. I'm very choosy. Clothing, not so much.

1:05.0

Like once I find something that I like, I bought like the same sneakers like five times in a row. I always buy multiple shoes. Like I find a shoe well like buying one seems such a mistake.

1:15.0

You buy backups. I like this. And therefore I've been very for four or five years. I try to like concentrate all my shopping as much as possible. Like I went to an outlet and I bought like two years worth of clothes.

1:28.0

And I just don't want to go shopping ever again. What about you? What do you do? You know, I'm a simple person. I don't like to shop. But if I have to shop, I'm finicky.

1:40.0

What's the category you're least finicky about? I'm least finicky. Okay, I'm finicky about most things. I will say one thing I love about shopping is not actually shopping. But it's like a pulse on the economy and a pulse on the world and on consumer trends.

1:59.0

Like I actually don't particularly like shopping for things for myself. But like if you ask me, do you want to go check out this new mall? I kind of get into that because I'm curious about what's going on.

2:10.0

Oh, it's a window into culture. Like if you go to a stationary store in Tokyo, you get a window into that culture.

2:18.0

One of the first things I do when I go to a country I've never been in within a day, for sure, I'm in a grocery store. I find grocery stores so interesting.

2:28.0

Or a convenience store or their version of a 7-Eleven. I completely agree.

2:32.0

Because it tells you everything you need to know. It's a whole world. What else?

2:36.0

So we are going to spend the episode talking about the trends we are keeping an eye on in retail and shopping. Should be fun.

2:49.0

So young me, what's your first trend?

2:51.0

Oh, you want me to go first?

2:53.0

Yes.

2:54.0

So I am obsessed with thinking about social commerce models right now.

2:59.0

Oh, okay.

3:00.0

So if you think about the first generation of e-commerce platforms, players like Amazon, Etsy, eBay, and Shopify.

...

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